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Dec 4, 2012
12/12
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CSPAN2
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see the deduction for state income taxes being a tax expendture. when i paid tax to the district of columbia, that is the cost, my cost, of earning that income, and it should be deductible i believe in computing me federal tax income little. it's not deductible. >> host: diane in new hampshire, go ahead. >> guest: good morning. >> host: morning. >> caller: fascinated to hear about the tax. it kills me every year. i'm a small business owner, and my income changes year to year. i can make $80,000 one year, and i can make $60,000 the next, and the next 45. i cannot process what the amt will be. looking at the last return here, made $60,000 and had an amt of $1700, a piggy back. talk about this because i don't consider making $80,000 as a single person and paying 13% of the social security out of and all my other cuts to be a lot of money. >> guest: no, i don't disagree with you at all. the amt is not what you would have designed as a tax -- a way to compute your federal income tax. it is the combination of a reform that was end acted after the need fo
see the deduction for state income taxes being a tax expendture. when i paid tax to the district of columbia, that is the cost, my cost, of earning that income, and it should be deductible i believe in computing me federal tax income little. it's not deductible. >> host: diane in new hampshire, go ahead. >> guest: good morning. >> host: morning. >> caller: fascinated to hear about the tax. it kills me every year. i'm a small business owner, and my income changes year to...
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Dec 5, 2012
12/12
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CSPAN2
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tax liability. , in computing my federal income tax liability. it's not that, in computing my federal income tax liability. it's not that, in computing my federal income tax liability. it's not that >> host: here is diane and linda burrough, new hampshire. democratic caller, go ahead. >> caller: good morning. i'm fascinated to hear about the alternative minimum tax. it kills me every year. i am a small-business owner and the income fluctuates year-to-year. i could make maybe $80,000.1 year, $60,000 for next year. the next or i may make 45. every year i cannot possibly determine what the amt is going to be. a second mls return here. i made $60,000 i had amt $1700, a piggyback. could you please talk about this because i don't consider making $80,000 as a single person in pain or 10% of my social security and all other costs to be a lot of money. >> host: i don't disagree with you at all. the amt is not what you would have deliberately designed as a way to compute your federal income tax. it is the com
tax liability. , in computing my federal income tax liability. it's not that, in computing my federal income tax liability. it's not that, in computing my federal income tax liability. it's not that >> host: here is diane and linda burrough, new hampshire. democratic caller, go ahead. >> caller: good morning. i'm fascinated to hear about the alternative minimum tax. it kills me every year. i am a small-business owner and the income fluctuates year-to-year. i could make maybe...
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Nov 29, 2012
11/12
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CSPAN2
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eye 62
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the solution is tax reform that broadens the tax base by scaling back tax preferences and cutting the corporate rate. we could cut it to 25%, scale back the deductions, the credits, the exemptions and have a competitive territorial system and have it all be revenue neutral. there is such a proposal that has been scored by the joint committee on taxation here in congress. we know we can do it. we're not saying it's easy. some of these preferences of course on these loopholes are ones that are very difficult to reduce or eliminate, but it would be the right thing to do for our economy. i do think we have seen some signs of developing bipartisan consensus on this issue, and i'm hopeful that we will see the same movement for pro growth individual tax reform because reforming the entire code is critical to regaining competitiveness, spurring growth and producing the revenues we need to pay for important public priorities. the smart way to raise revenue then is not through tax rate hikes that threaten to shrink our economy but rather thoughts u tax reform designed to help grow the economy.
the solution is tax reform that broadens the tax base by scaling back tax preferences and cutting the corporate rate. we could cut it to 25%, scale back the deductions, the credits, the exemptions and have a competitive territorial system and have it all be revenue neutral. there is such a proposal that has been scored by the joint committee on taxation here in congress. we know we can do it. we're not saying it's easy. some of these preferences of course on these loopholes are ones that are...
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Nov 29, 2012
11/12
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CSPAN2
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eye 98
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tax and spend, not taxes to reduce deficits. taxes to fund new spending. that's why the budget, it puts us on track to have $25 trillion in total debt at the end of ten years, another almost $10 trillion in debt headed to the current debt level. so insofar as i can see, that tax-and-spend policy remains his goal today. the white house isn't planning to raise taxes to reduce the deficit, raise taxes under their plan to expand government. and that's not -- i don't believe congress will accept such a deal if that's what's going on in the secret negotiations. president obama campaigned on tax increases just on the wealthy, just on raising their rates, just only $800 billion in tax increases. but now the white house is demanding $1.6 trillion in tax increases. don't the american people have a right to see where those taxes fall, who this will impact and how much they are? shouldn't the president lay out his plan? the president of the united states, the only person who represents everybody in the country, will that remain a secret? will it just be revealed to us
tax and spend, not taxes to reduce deficits. taxes to fund new spending. that's why the budget, it puts us on track to have $25 trillion in total debt at the end of ten years, another almost $10 trillion in debt headed to the current debt level. so insofar as i can see, that tax-and-spend policy remains his goal today. the white house isn't planning to raise taxes to reduce the deficit, raise taxes under their plan to expand government. and that's not -- i don't believe congress will accept...
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Nov 30, 2012
11/12
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CURRENT
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eye 84
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if you want to limit tax deductions tell me what it is you want to limit. if you want to reduce entitlements, tell me how we're going to do that. if we're going to raise taxes or cut spending, tell me how we're going to do this because i've got the american public on my side. >> jennifer: i totally agree with that. i hear he's not cutting enough in this proposal, but in the last campaign he was cutting too much, oh my god. shouldn't the republicans in congress be called out on that hypocrisy, at least by the main treatment media? >> one of the things that think they're going to be cognitive of, they don't have time to change their image with the american public. there is the argument that house and republicans were re-elected, but i think it's clear that the american public did not vote for dysfunction. they want the american government to function. that's the reason why barack obama was elected and mitt romney was not elected. the american people liked most of the president's policies, and they want the government to function. if i were a house member, a r
if you want to limit tax deductions tell me what it is you want to limit. if you want to reduce entitlements, tell me how we're going to do that. if we're going to raise taxes or cut spending, tell me how we're going to do this because i've got the american public on my side. >> jennifer: i totally agree with that. i hear he's not cutting enough in this proposal, but in the last campaign he was cutting too much, oh my god. shouldn't the republicans in congress be called out on that...
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Dec 4, 2012
12/12
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CNBC
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tax rates go up. >> boo. >> the payroll tax holiday goes away. unemployment benefits expire for most people and that is not even accounting for the layoffs. put it together, unless we get a deal, which won't be bad news for the single biggest consumer out there, retail. >> you would expect the whole retail cohort to be in trouble. things will get a whole lot worse. two weeks ago we got retail sales that showed a 3% decline. last friday's gdp indicated that it had decelerated to 1.4%. incomes are flat and hurricane sandy shut down the northeast for days and in some cases for weeks. even though we have had positive numbers from companies like home dep depot, the group would be flat lining. yet that hasn't been happening. it is shown by the rth, the market vectovector's retail num. it has been showing very well. that is why tonight we are going off the charts with the help of ed ponzi. my colleague at realmoney.com, we have to learn what the charts are seeing. if you remember, one of the reasons why i went back to ed. he is the guy who nailed it and
tax rates go up. >> boo. >> the payroll tax holiday goes away. unemployment benefits expire for most people and that is not even accounting for the layoffs. put it together, unless we get a deal, which won't be bad news for the single biggest consumer out there, retail. >> you would expect the whole retail cohort to be in trouble. things will get a whole lot worse. two weeks ago we got retail sales that showed a 3% decline. last friday's gdp indicated that it had decelerated...
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Dec 3, 2012
12/12
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CSPAN2
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if you only got it to tax and how much of youthspan neon texting? -- text and how much are you spending for texting? >>guest: i cannot remember ifit is free or 99¢.you use your fingers or we include a. it is easy to type with a stylus. you can be a lot more precise. >>host: wow are we busy and use express ordering if you can. if you shop here before, it actually allows you to but ahead in line.literally typing your telephone number and it will ask your zip code and is no hard questions like how old are you or how much do you weigh? % not want to answer. [laughter] also the flex pay committee to do all that and you can pay for6 c13 -- we will pay for the shipping and handling even if you are going to send it to someone else. it is free to get it to their door. sent in to minnesota or california or new york. -- send we have had thousands of new shoppers in the last day and you can get more than one of these also. you can also use flex pay more than once. many times the limit per but we are not doing that here. you may want to talk in a way for gradua
if you only got it to tax and how much of youthspan neon texting? -- text and how much are you spending for texting? >>guest: i cannot remember ifit is free or 99¢.you use your fingers or we include a. it is easy to type with a stylus. you can be a lot more precise. >>host: wow are we busy and use express ordering if you can. if you shop here before, it actually allows you to but ahead in line.literally typing your telephone number and it will ask your zip code and is no hard...
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Dec 5, 2012
12/12
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CNBC
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tax rates go up. >> boo. >> the payroll tax holiday goes away. [ buzzer ] unemployment benefits expire for most people -- [ baby crying ] and that's is not even accounting for the layoffs. that's just being cautious. put it together, unless we get a deal, which won't be bad news for the single biggest consumer play out there, which is retail. so even though we're having a real good holiday shopping season that we're seeing so far. pbh told us that. you expect retail to be in trouble. once the holidays ends, things can get a whole lot worse. not just the fiscal cliff. two weeks ago aggregate retail sales that showed a 3% decline. last friday's gdp indicated that growth and personal consumption decelerated to 1.4%. these are not encouraging numbers. incomes are flat and hurricane sandy shut down the northeast wealthiest parts of the country, for days and in some cases for weeks. even though we have had positive numbers from companies like home depot and lowes, you think it would be from the proverbial -- >> the house of fame. >> or at least the group flat lining. get that? isn't happenin
tax rates go up. >> boo. >> the payroll tax holiday goes away. [ buzzer ] unemployment benefits expire for most people -- [ baby crying ] and that's is not even accounting for the layoffs. that's just being cautious. put it together, unless we get a deal, which won't be bad news for the single biggest consumer play out there, which is retail. so even though we're having a real good holiday shopping season that we're seeing so far. pbh told us that. you expect retail to be in...
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we live and die by property taxes and sales taxes and they are all coming in shorter than anticipated. basically because the property values in detroit. it is starting to pick up in michigan. we just need a little bit more time in order to get our financial house in order. in order to grow our economy. gerri: i have heard that before. we need more time to get our fiscal house in order. wouldn't it make more sense? i know that you are probably playing all kinds of different groups. all kinds of different political groups who want to have their voice heard. wouldn't it make more sense to come in and have the state on this thing -- the thing that we will fix this thing and get it done. >> unfortunately, they can't unilaterally change them. so the financial emergency manager coming into detroit, setting us back a year. we just need to have the political will make these decisions and get it done. we have the political will to get it done. i don't want to sound like a broken record, but it is as simple as that. an emergency manager can do anymore than what we are doing right now with the to
we live and die by property taxes and sales taxes and they are all coming in shorter than anticipated. basically because the property values in detroit. it is starting to pick up in michigan. we just need a little bit more time in order to get our financial house in order. in order to grow our economy. gerri: i have heard that before. we need more time to get our fiscal house in order. wouldn't it make more sense? i know that you are probably playing all kinds of different groups. all kinds of...
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Dec 7, 2012
12/12
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CNNW
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instead of reforming the tax code, cutting spending, the president wants to raise tax rates. even if the president got the tax rate hike that he wanted, understand that we would continue to see trillion dollar deficits for as far as the eye can see. washington has a spending problem. not a receive knew problem. the president doesn't agree with our proposal, i believe that he's got an obligation to families and small businesses to offer a plan of his own. a plan that can pass both chambers of the congress. we are ready and eager to talk to the president about such a plan. >> mr. speaker, you did speak with the president earlier this week. can you characterize that call? did he have any kind of counteroffer? also, we understand that he just is making clear that it is -- got to be increase in rates for the wealthy or no deal. are you willing to give a little bit, maybe just not all the way to 39.6? >> it was the -- the phone call was pleasant. but it was just more of the same. the conversations -- the staff had yesterday just more of the same. it is time for the -- president, if
instead of reforming the tax code, cutting spending, the president wants to raise tax rates. even if the president got the tax rate hike that he wanted, understand that we would continue to see trillion dollar deficits for as far as the eye can see. washington has a spending problem. not a receive knew problem. the president doesn't agree with our proposal, i believe that he's got an obligation to families and small businesses to offer a plan of his own. a plan that can pass both chambers of...
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Dec 4, 2012
12/12
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CSPAN2
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eye 61
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to provide tax cuts on those. when it comes to balance, the president believes it is the right thing and it's the only mathematically sound way to achieve balance in the deficit reduction package and the point i've been trying to make is that he was very clear about this. but it should not be a surprise to republican leaders. >> this officer that the president made to house republicans, he is questioning more than that. repeatedly during the year about his proposal, he has been trying in an odd page document -- 70 odd pages at the podium last week, he was presented with a super committee appropriation. the deficit reduction has long been his position and it has been explicitly his position. we talked about it in the aftermath of the election. he did not suggest that he somehow added to his proposal -- >> what i am saying is that we didn't campaign on limiting the deductions for wealthier americans or limiting charity deductions for wealthier americans. those are not items that we talked about on the campaign trail
to provide tax cuts on those. when it comes to balance, the president believes it is the right thing and it's the only mathematically sound way to achieve balance in the deficit reduction package and the point i've been trying to make is that he was very clear about this. but it should not be a surprise to republican leaders. >> this officer that the president made to house republicans, he is questioning more than that. repeatedly during the year about his proposal, he has been trying in...
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it is like a tax revolt. if washington does not act major league owners will be forced to shell out money. the ipad maybe number one but consumers have more options with a tablet. and just how wasteful has indeed york been? consumers and taxpayers aretomit squeezed. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. you know, from our 4,000 television commercials. yep, there i am with flo. hoo-hoo! watch it! [chuckles] anyhoo, 3 million people switched to me last year, saving an average of $475. yeah, i'm kind of a big deal. [sigh] it feels good to help people save... with great discounts like safe driver, multicar, and multipolicy. 731, 732... you want my number, don't you? call 1-800-progressive right now. or visit progressive.com for an extra $50 online savings. thirsty? 'causi got a six-pack right here. oh, yeah... [voice shaking] you don't even have to wait for your
it is like a tax revolt. if washington does not act major league owners will be forced to shell out money. the ipad maybe number one but consumers have more options with a tablet. and just how wasteful has indeed york been? consumers and taxpayers aretomit squeezed. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. you know, from our 4,000 television...
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Dec 6, 2012
12/12
by
MSNBC
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eye 76
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taxes. >> now the revenues we're putting on the table are going to come from guess who? the rich. there are ways to limit deductions, close loopholes and have the same people pay more of their money to the federal government without raising tax rates which we believe will harm our economy. >> and new polling by the associated press could strengthen the president's hand in negotiations. 48% of americans say they support the idea of raising taxes on the highest earners. that's compared to 32% who say tax cuts should continue for everyone. >> well, hillary clinton says she insists that she wants to get out of politics. but a new poll shows that the majority of americans are hoping she has a change of heart. the latest abc news/"washington post" poll shows 50% of americans would vote for hillary clinton in 2016. 37% would oppose such a campaign. hillary clinton also has a strong bid of support in her home state of new york where 54% of voters say she would make a great runner. but new yorkers are not so enthusiastic about the current governor jumping into the race. 39% suppo
taxes. >> now the revenues we're putting on the table are going to come from guess who? the rich. there are ways to limit deductions, close loopholes and have the same people pay more of their money to the federal government without raising tax rates which we believe will harm our economy. >> and new polling by the associated press could strengthen the president's hand in negotiations. 48% of americans say they support the idea of raising taxes on the highest earners. that's...
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gerri: income tax. >> a payroll tax strictly. it's added to the medicare tax that's taken out, makes a small stop in the trust fund, and funds another program that the president likes. this is the problem. the president is not hoonest with us or the american people. he tells you he loves you and wants to take care of you, but the fact of the matter is, he's going to raise your taxes to a level that, in fact, it's going to kill economic activity in the country. how do we know? look what's happening. on your crawl on the television, dividends paid before december 31st, and why? that behavior's driven by changes in the tax code that are existing law. he's counting on people not paying attention to that. it's the holidays, that's right. they are preparing for christmas, but they have to be worried # about the tax code. gerri: a tax revolt. you'll get more of the same if december 31st passing and nobody does anything. i think everybody's right up to here with what's going on, and you are so nice to talk to us about it. really apprecia
gerri: income tax. >> a payroll tax strictly. it's added to the medicare tax that's taken out, makes a small stop in the trust fund, and funds another program that the president likes. this is the problem. the president is not hoonest with us or the american people. he tells you he loves you and wants to take care of you, but the fact of the matter is, he's going to raise your taxes to a level that, in fact, it's going to kill economic activity in the country. how do we know? look what's...
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Dec 7, 2012
12/12
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KRON
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starbucks will pay $60 million more in taxes and the united kingdom. the announcement comes in response to an out recent outcry in the u.k. that multinational companies are skirting taxes by shifting profits overseas divisions. the managing director of starbucks u.k. says they have always paid taxes to the letter of the law will make additional payments in 2013 and 2014 despite the fact that the u.k. unit is not yet profitable. the will and amazon have also been targeted as not paying their fair share and england. >> it is 6:11 a.m. and we'll be back in a couple of mess. minutes. you are just going to have to trust me, this is walnut creek. we will be right back. =dj local reservoirs' have seen a needed increase in water levels because of last weekend's storms. reserves and santa clara and proves it evidently with the rainfall. levels are still not exactly where they need to be though. since last wednesday the santa clara valley water district says average storage in their 10 reservoirs' increase from 74 to 91% where they should normally be. that is a
starbucks will pay $60 million more in taxes and the united kingdom. the announcement comes in response to an out recent outcry in the u.k. that multinational companies are skirting taxes by shifting profits overseas divisions. the managing director of starbucks u.k. says they have always paid taxes to the letter of the law will make additional payments in 2013 and 2014 despite the fact that the u.k. unit is not yet profitable. the will and amazon have also been targeted as not paying their...
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Dec 5, 2012
12/12
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FOXNEWSW
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i can do the rest of my taxes for me. >> greg: adorable. here is where it gets delightful. >> schools, public safety, the roads, parks. libraries. public transportation. all in decline. rich people didn't care. they said get what they deserve. ordinary people wonder why rich people needed so much money. the 1% said don't worry. this is good for you, too! because it will trickle down from us to you. >> greg: ah, yes. is there any better lesson for your kids than saying the rich pee on the poor? you know it's bad when shanghai has more in common with traditional values than california does. we have in-house training film for occupy wall street, guaranteeing another generation of the angry deserved class warriors in ten years. what the video shows is how bitter and ugly progressives can be. for a moment i thought it was a parody but it's real. it's accurate depiction of the envy-driven left than you'll see and brought to you from california teachers. the people who want to put the grimy greedy paws all over your kids' minds among other things.
i can do the rest of my taxes for me. >> greg: adorable. here is where it gets delightful. >> schools, public safety, the roads, parks. libraries. public transportation. all in decline. rich people didn't care. they said get what they deserve. ordinary people wonder why rich people needed so much money. the 1% said don't worry. this is good for you, too! because it will trickle down from us to you. >> greg: ah, yes. is there any better lesson for your kids than saying the rich...
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Nov 29, 2012
11/12
by
FBC
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eye 160
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call it a tax revolt. more than 170 companies issuing special dividends to avoid higher taxes next year. is a victory for investors but it is it also a victory for libertarians? we will ask one of them after the break. the judge. want to try to crack it? yeah, that's the way to do it! now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care professionals who understand the difrence that quality time with our members can make... that's a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospitals, pharmacists and other health professionals who helped us achieve the highest average star rating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... your efforts result in the quality of care and service we're able to provide... which means better health
call it a tax revolt. more than 170 companies issuing special dividends to avoid higher taxes next year. is a victory for investors but it is it also a victory for libertarians? we will ask one of them after the break. the judge. want to try to crack it? yeah, that's the way to do it! now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care professionals who understand the...
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442
Dec 1, 2012
12/12
by
FOXNEWSW
tv
eye 442
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taxes, entitlements, you name it, we're ready to talk. >> you would begin with the tax situation, right? i would begin with the spending but you are smarter than me. >> so you say to mr. obama, all right, we're willing to compromise here if it's reasonable. all right? how much more do you want to squeeze out of the upper 2%? and he says probably, i want to go back to the rate clinton had 39.5 and i want to raise capital gains to 25%. do you, lou dobbs, give him that if there is something else that he has to give? >> i certainly would not give him that without conditions. >> bill: but you would think about it it? >> absolutely. that's what i'm saying. the dobbs plan says that reasonable, reasonable, what does that mean? that a little bit of tax hike on the wealthy, and wouldn't be a little bit. what is it estimated to be about something like a billion a year. >> $82 billion. >> bill: a year? >> per year. >> bill: that's still not -- all right. so, but then to get those tax hikes, what does lou dobbs want as far as spending cuts? >> well, you know, first of all i wouldn't negotiate in the
taxes, entitlements, you name it, we're ready to talk. >> you would begin with the tax situation, right? i would begin with the spending but you are smarter than me. >> so you say to mr. obama, all right, we're willing to compromise here if it's reasonable. all right? how much more do you want to squeeze out of the upper 2%? and he says probably, i want to go back to the rate clinton had 39.5 and i want to raise capital gains to 25%. do you, lou dobbs, give him that if there is...
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Dec 7, 2012
12/12
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MSNBCW
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tax rates will go up. republicans might let a vote go through on a bill that, you know, extends all the middle-class tax cuts, lets the top 2% expire. say it's a democrat bill, democrats mainly supported it with moderate republicans and senate approve that and throw in unemployment benefits and other stuff. >> and john boehner can't afford to say there's progress being made or people will have his head again. he has to say pleasant but nothing going on. >> i don't know. i think if you believe that this is the truth, you and ayman should do something like if you had mustaches shave them if you lose. >> grow them. >> grow. maybe grow one. >> universal. >> no one wants to see a mustache. >> the mustache karma of david axelrod can be channeled through cnbc's ayman jabbers. >> i'll talk to him about that. >> i checked with ben about that. he will accept payment in pennies if i lose. >> i'm looking forward to it. >> that is downright scrooge-like. ayman jabbers thank you as always for the answers my friend. >> t
tax rates will go up. republicans might let a vote go through on a bill that, you know, extends all the middle-class tax cuts, lets the top 2% expire. say it's a democrat bill, democrats mainly supported it with moderate republicans and senate approve that and throw in unemployment benefits and other stuff. >> and john boehner can't afford to say there's progress being made or people will have his head again. he has to say pleasant but nothing going on. >> i don't know. i think if...
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Dec 1, 2012
12/12
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CNNW
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. >> with 32 days to go, will you be paying higher taxes? my political all-stars weigh in on battleground america. >>> and against all odds, after sandusky, penn state's incredible comeback. my exclusive interview with the coach of the year. >>> and a reunion with a dear old friend whose bark is as bad as her bite. sharon osbourne. her incredible year of highs and lows and how she's rebuilding her life after facing a terrible health prognosis. >> i couldn't see myself going through chemoagain. >> this is "piers morgan tonight." >>> good evening. who ever thinks the american dream is dead or dying should meet mark and cindy hill, a missouri couple who live a very ordinary life. at least that's what they were doing until wednesday and a little thing called power ball came along. sure, the odds were 1 in 175 million, but like everybody else in america, pretty much everyone else, they bought a ticket. wouldn't you know it, they won. sharing the jackpot with another lucky winner. today, the hills are holding a check in their hands for a cool $293
. >> with 32 days to go, will you be paying higher taxes? my political all-stars weigh in on battleground america. >>> and against all odds, after sandusky, penn state's incredible comeback. my exclusive interview with the coach of the year. >>> and a reunion with a dear old friend whose bark is as bad as her bite. sharon osbourne. her incredible year of highs and lows and how she's rebuilding her life after facing a terrible health prognosis. >> i couldn't see...
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119
Dec 6, 2012
12/12
by
CSPAN
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eye 119
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host: the estate tax or the capital gains tax? guest: the estate tax. host: if it's an asset, you pay capital gains. guest: right. host: we have this comment on twitter from james. guest: corporations would say the businesses are already being taxed. folk should not be taxed for investing in their business. host: double taxation. guest: that is the argument. when people die, they are being taxed again. that is the essence of the argument against the estate tax. host: can you start over? caller: a quick question about the comments of the 401(k). i used to work for a cpa firm. i understand they are income tax deferred instruments. when you take it out, the tax you pay is income tax. the assumption is the rate would be lower. let's say the rate is 25% when you retire. that is higher than the current cap gains tax rate. it does not apply to 401(k)'s or any other income tax deferred instrument. when you take them out, you pay taxes on them. guest: that is correct. you pay income tax and presumably when you retire, you are at a lower tax rate and that is the
host: the estate tax or the capital gains tax? guest: the estate tax. host: if it's an asset, you pay capital gains. guest: right. host: we have this comment on twitter from james. guest: corporations would say the businesses are already being taxed. folk should not be taxed for investing in their business. host: double taxation. guest: that is the argument. when people die, they are being taxed again. that is the essence of the argument against the estate tax. host: can you start over? caller:...
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Dec 7, 2012
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i am a flat tax guy. what i don't get is why the united states wants to imitate the mistakes of western europe, jim pethokoukis. that's what i don't get. you get the last word. >> i think it's stunning and i hope we learn from yoour mistak as quickly as they did in great britain. >>> who needs to wait for a recession? our next guest says we may already be in one and it started way back in july. think about that. recession last july. stay with us. he'll defend his position. r ] when this hotel added aflac to provide a better benefits package... oahhh! [ male announcer ] it made a big splash with the employees. [ duck yelling ] [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. ♪ ha ha! it's easy to follow the progress you're making toward all your financial goals. a quick glance, and you can see if you're on track. when the conversation turns to knowing where you stand, turn to us. wells fargo advisors. >>> we've got some more breaking news for you. the michigan
i am a flat tax guy. what i don't get is why the united states wants to imitate the mistakes of western europe, jim pethokoukis. that's what i don't get. you get the last word. >> i think it's stunning and i hope we learn from yoour mistak as quickly as they did in great britain. >>> who needs to wait for a recession? our next guest says we may already be in one and it started way back in july. think about that. recession last july. stay with us. he'll defend his position. r ]...
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Dec 6, 2012
12/12
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these taxes the president wants. if begive him all tax increases it pays for 8 and a half days of government. it doesn't do anything for middle class it will destroy middle class job creation. the more we tell people that the stronger we will be in being able to negotiate a solution moving forward. >> bill: handicap it real quick, is it going to happen or go into january with chaos? >> at a minimum what i hope is that we'll be able to do something here that avoids this fiscal cliff which is a creation of congress. it's a bipartisan creation. this fiscal cliff is the result of the last fiscal cliff. >> bill: that put a date on there. >> yeah. >> bill: may extend the date that's what i think is going to happen. >> my hope is is that we can avoid the bad stuff. then we have to deal with the 16 trillion-dollar debt that $1 trillion a year in deficit spending. we have to solve that. that thing is not going to solve itself. >> bill: doesn't feel like the president feels the urgency that you feel. you are one of the leaders
these taxes the president wants. if begive him all tax increases it pays for 8 and a half days of government. it doesn't do anything for middle class it will destroy middle class job creation. the more we tell people that the stronger we will be in being able to negotiate a solution moving forward. >> bill: handicap it real quick, is it going to happen or go into january with chaos? >> at a minimum what i hope is that we'll be able to do something here that avoids this fiscal cliff...
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yeah, no one wants higher taxes, but we're not in a deep reception right now. we absolutely are going to die if things start to chang and in fact, the underlying real problem, the growing deficit on the path to greece, the goal gets worse once we kick the can away. that will be the overriding probleming not the slowing economy not people spending money, but sure, that might not happen in the first two months, but it will eventually happen if we keep kicking down the can. we want to prove to the world that we have a solution and if it takes a few months to get there and higher taxes for a while, big deal, we will get there. that's got to be the plan not just the same nonsense. >> yeah, but larry, that's part of your point, but jonas says we're not in a bad recession, we're certainly not in a good recovery. and if we just keep falling little bit by little bit, maybe as much as jump off the cliff, but it's certainly a slippery slope. >> brenda, the damage is already being done. we saw it in november retail sales and companies delaying activity already and we know
yeah, no one wants higher taxes, but we're not in a deep reception right now. we absolutely are going to die if things start to chang and in fact, the underlying real problem, the growing deficit on the path to greece, the goal gets worse once we kick the can away. that will be the overriding probleming not the slowing economy not people spending money, but sure, that might not happen in the first two months, but it will eventually happen if we keep kicking down the can. we want to prove to the...
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with the tax rate being the lowest in america since the 1950s, most likely we'll raise the tax for the up 2er% at some point, right? >> raising tax rates is unacceptable. >> jon: okay. so what exactly is your idea of the a negotiation? >> the president's idea of a negotiation is "roll over and do what i ask." (laughter) >> jon: at least once he has you on your back he asks. (laughter) i can't wait till -- (applause) they're applauding the lack of rape. (laughter) (applause) now they're just mimicking me. (laughter) (laughter) i cannot wait until the democrats get ahold of this republican proposal. they are going to tear it to shreds. >> the good news is they put something in writing. the bad news is it doesn't really get us in the moving -- moving forward. >> the republican plan failed the very first test of fairness. >> unfortunately, the speaker's proposal right now is still out of balance. (laughter) >> jon: "out of balance"? where's your hysterical rhetoric. where's your "i laughed in their (bleep)ing faces!" where is your "disappointed!" where is your "this proposal is an insult!
with the tax rate being the lowest in america since the 1950s, most likely we'll raise the tax for the up 2er% at some point, right? >> raising tax rates is unacceptable. >> jon: okay. so what exactly is your idea of the a negotiation? >> the president's idea of a negotiation is "roll over and do what i ask." (laughter) >> jon: at least once he has you on your back he asks. (laughter) i can't wait till -- (applause) they're applauding the lack of rape....
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Dec 3, 2012
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just 28 days left and fiscal cliff talks are at a standstill over taxes and entitlements. >> they must have forgotten that republicans have continued to hold the majority in the house. but, you know, the president's idea of a negotiation is roll over and do what i ask. we need to find common ground and we need to find it quickly. >> could the only thing standing in the way of that would be a refusal by republicans to accept rates have to go up on the wealthiest americans and i don't really see them doing that. >> thank you very much. mr. president. >> meanwhile as nato prepares to deploy patriot missile defenses to turkey, hillary clinton warns syria against moving its chemical weapons. >> this is a red line for the united states. i'm not going to telegraph in any specifics what we are would do in the event of credible evidence that the assad regime has resorted to using chemical weapons against their own people, but suffice it to say, we are certainly planning to take action if that eventuality were to occur. >> and while washington buzzes over this video tribute to clinton, some are
just 28 days left and fiscal cliff talks are at a standstill over taxes and entitlements. >> they must have forgotten that republicans have continued to hold the majority in the house. but, you know, the president's idea of a negotiation is roll over and do what i ask. we need to find common ground and we need to find it quickly. >> could the only thing standing in the way of that would be a refusal by republicans to accept rates have to go up on the wealthiest americans and i don't...
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Nov 30, 2012
11/12
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this is a -- this is a provision in the law that i worked on, in fact, with tax the gentleman from oklahoma anded sait something simple, if you are adjudicated mentally infirm you're on the same list that prevents you from buying a gun as if you're a felon. in my judgment, i love our veterans, i vote for them all the time, they defend us. but if you are mentally ill, whether you're a veteran or not, just like if you're a felon, if you're a veteran or not, and you have been judged to be mentally infirm, you should not have a gun. and that no amendment, my friend, is absolute. the first amendment is not absolute, you're against antipornography laws. the third, fourth, fifth, sixth, seventh, and eight and ninth amendments are absolute and as much as i believe in the second amendment and the right to bear arms and was a supporter of the heller amendment neither is the second amendment. i continue my objection to the provision. mr. mccain: may i be recognized? the presiding officer: the senator from arizona. mr. mccain: what we have here after 12 hiewrs today, eight hours yesterday and 42 amendm
this is a -- this is a provision in the law that i worked on, in fact, with tax the gentleman from oklahoma anded sait something simple, if you are adjudicated mentally infirm you're on the same list that prevents you from buying a gun as if you're a felon. in my judgment, i love our veterans, i vote for them all the time, they defend us. but if you are mentally ill, whether you're a veteran or not, just like if you're a felon, if you're a veteran or not, and you have been judged to be mentally...
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Dec 3, 2012
12/12
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first taxes don't data. what about taxes. his take on the cliff hanger and why investors shouldn't worry about taxes. and dell trade or trap? goldman jumps on the band wagon. 2012 gold rush. why are americans stocking up on gold coins? is it another way to say diversify? we have to get straight to our top story and tonight that is will the cliff ruin christmas? the rhetoric cnbc has the latest including the white house response to the gop proposal. >> just within the past few minutes we have gotten the white house's response to the boehner counter proposal to the white house proposal last week. the white house doesn't like the proposal from bane kpp today. dan fifer saying the republican la letter does not meet the balance and sticks the middle class with the bill. clearly what we are seeing is a negotiation. the white house doesn't like what they have been presented and now the offers and counteroffers will continue to fly and will start to get a little more close to one another. neither one of these as they have been laid o
first taxes don't data. what about taxes. his take on the cliff hanger and why investors shouldn't worry about taxes. and dell trade or trap? goldman jumps on the band wagon. 2012 gold rush. why are americans stocking up on gold coins? is it another way to say diversify? we have to get straight to our top story and tonight that is will the cliff ruin christmas? the rhetoric cnbc has the latest including the white house response to the gop proposal. >> just within the past few minutes we...
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they sent her a tax bill for $300,000. they wouldn't do that to you and your wonderful wife and they wouldn't do that to other straight couples in this country. it's not fair. >> let's go to -- let's get revolutiona revolutionary. we only have a few minutes. wonder looking at justice kennedy maybe because he's irish, i'm just kidding, there's something about him i find very interesting. >> and from california. >> he's from california. if you look at the majority opinion in the case involving lawrence texas which was about outlawing or basically declaring sodomy -- anti-sodomy laws unconstitutional, he says not only in that court decision you can't deny a person's liberty in these cases to engage in intimate conduct but it's about something bigger. marriage is is not about having constant sex, it's about having a loving relationship. it's about people. >> right. >> not organs. let me -- >> it's about families. >> okay. you tell it your way. if it gets down to questions of liberty and equal protection of the law, fundamental
they sent her a tax bill for $300,000. they wouldn't do that to you and your wonderful wife and they wouldn't do that to other straight couples in this country. it's not fair. >> let's go to -- let's get revolutiona revolutionary. we only have a few minutes. wonder looking at justice kennedy maybe because he's irish, i'm just kidding, there's something about him i find very interesting. >> and from california. >> he's from california. if you look at the majority opinion in the...
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Dec 5, 2012
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should the middle-class tax cuts be extended? should the bush tax cuts on the rich end? should we end the medicare guarantee for our seniors and the next generation? well, those big questions were discussed, argued and clear positions were taken, and voters went to polling places on election day to render their verdict. and, mr. president, the outcome was clear. candidates who stood up for the middle class won. candidates who advocated for our seniors came out ahead. and in exit polls across the country, voters made very clear that they strongly supported the idea that the wealthy should pay higher tax rates and their fair share. and everyone -- democrat, republican, independent, wealthy, low income, middle class, students, workers, retirees, older, younger and inbetween -- everyone, everyone supports extending the tax cuts for the middle class. nobody thinks that the taxes should go up for 98% of our workers and 97% of our small business owners. so, mr. president, this ought to be easy. the american people just weighed in supporting a continuation of the bush tax cuts f
should the middle-class tax cuts be extended? should the bush tax cuts on the rich end? should we end the medicare guarantee for our seniors and the next generation? well, those big questions were discussed, argued and clear positions were taken, and voters went to polling places on election day to render their verdict. and, mr. president, the outcome was clear. candidates who stood up for the middle class won. candidates who advocated for our seniors came out ahead. and in exit polls across...
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Dec 1, 2012
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tax rate goes up. eventually you will get someone out, to get that president out and get president who wants lower tax rates and congress that wants the lower tax rate and maybe a senate. it would hurt dramatically. best time to do it is now. >> andrea: there are two schools of thought here. one if you follow twitter or watch republicans who are on the pundit circle, they say let them go off cliff and let obama own that. there is another one that says just let him have what he wants and then when the economy nose dives he will have to own it. republicans are going to get blamed anyway. do you feel strong about either one of those? >> dana: not necessarily. i do think i see in "washington post," headline, obama offers plan for cliff. plan to be in quotes. the thing that amazes me and the media lets it happen. for eight years or longer now. i had to defend how many times people said on the left, including president obama when he was running for president the first time, the bush tax cuts only help the ri
tax rate goes up. eventually you will get someone out, to get that president out and get president who wants lower tax rates and congress that wants the lower tax rate and maybe a senate. it would hurt dramatically. best time to do it is now. >> andrea: there are two schools of thought here. one if you follow twitter or watch republicans who are on the pundit circle, they say let them go off cliff and let obama own that. there is another one that says just let him have what he wants and...
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Dec 6, 2012
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pays a lot of money in payroll taxes and sales taxes and state and local taxes and property taxes. it adds up even if they're not paying income tax. host: how would you compare the current talks to july 2011 and the debt limit, fiscal cliff, sequestration -- guest: the debt limit talks definitely set the stage for this. they were not completely without value. i get the sense it is a lot more serious now. it has almost been like a year- and-a-half long negotiation. with the real deadline being the expiration of the bush tax cuts at the end of this year. to some extent, now they're getting to the real deadline and it is more serious. host: have you written one of the, if we go over the cliff, this is what happens-type article? guest: yes. people would probably start feeling it in their paychecks pretty quickly. never mind what it means to the broader economy. it will hit. it will hurt a lot of people. if we did not change the law and it went one month, two months, three months, it could lead to another recession because there be such a sharp drop in people's incomes and it would be s
pays a lot of money in payroll taxes and sales taxes and state and local taxes and property taxes. it adds up even if they're not paying income tax. host: how would you compare the current talks to july 2011 and the debt limit, fiscal cliff, sequestration -- guest: the debt limit talks definitely set the stage for this. they were not completely without value. i get the sense it is a lot more serious now. it has almost been like a year- and-a-half long negotiation. with the real deadline being...
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Nov 30, 2012
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the middle class can't possibly afford anymore taxes. that's why the rich have to pay their fair share. >> cenk: let me throw a quick question. >> i think if it's framed that way in terms of jobs and public investment and all of us, i think that's a winning way of framing it. >> cenk: you're definitely right about that, there's no question about that. the question is the guy in the white house is not going to frame it that way. if my prediction is right and we'll go to the upper end of it and say the marge national tax rate gets moved up. is that a good deal for a bad deal? >> it's a bad deal, because remember the clinton highest marginal tax rates on dual filers 39.6% that is still historically very, very low. i mean, before 1980, the highest marge national tax rate was 71% under eisenhower, 91%. even if you consider all of the tax deductions that the wealthy took in those years. the effective tax rate on the highest income people was still about 55%. much higher than the 39% under bill clinton. did the economy suffer? no! we did very w
the middle class can't possibly afford anymore taxes. that's why the rich have to pay their fair share. >> cenk: let me throw a quick question. >> i think if it's framed that way in terms of jobs and public investment and all of us, i think that's a winning way of framing it. >> cenk: you're definitely right about that, there's no question about that. the question is the guy in the white house is not going to frame it that way. if my prediction is right and we'll go to the...